1 minute read
Many employee benefits are subject to annual dollar limits which are adjusted for inflation by the IRS each year. Many limits will increase for 2024.
1 minute read
The Inflation Reduction Act allows the federal government to negotiate directly with drug manufacturers to improve access to several costly brand-name drugs. Despite legal challenges,...
1.5 minute read
The Internal Revenue Service (IRS) has released the final 2023 forms and instructions for reporting under IRS Code Sections 6055 and 6056.
1 minute read
The IRS issuedNotice 2023-70, which increases the fee for plan years ending on or after October 1, 2023, and before October 1, 2024, to $3.22 multiplied by the average number of lives...
1.5. minute read
The Biden Administration has announced a plan to ban medical debt from credit scores. Currently, having a low credit score can make it more difficult for a person to rent an...
1 minute read
In 2023, U.S. employers’ adoption of individual coverage health reimbursement arrangements (ICHRAs) increased by 64%, according to a HRA Council report. An ICHRA allows employers to...
3.5 minute read
Employers should be providing certain benefit notices to their employees at open enrollment time. This includes the summary of benefits and coverage (SBC). Other notices must be...
1 minute read
For plan years beginning on or after January 1, 2024, employers should be aware of legal changes affecting the design and administration of their plans. It’s important to communicate...
1 minute read
As part of the Inflation Reduction Act, Medicare will soon be able to directly negotiate covered prescription drug prices (Part B and Part D). The Centers for Medicare and Medicaid...
3 minute read
When deciding whether to move from a fully insured health plan to a self-insured health plan (or vice versa), employers should consider the different compliance requirements for each...
